Binance Weekly Report: $100,000 Black Friday, Bitcoin’s Second Best Day, and CZ’s Life Story.
Crypto Market Overview
We haven’t seen prices this high since December 2017. BTC broke regional ATH records, while ETH rallied to $600.
On Saturday, Bitcoin started a sideways movement around $18,500 before a sudden spike on Wednesday, reaching $19,300 on Wednesday before a sharp drop to a weekly low of $16,360. A slight correction followed on Thursday, but it seems that the bears are back in the game, further pushing the price down. The closing price on Friday stopped at $17,007.70.
While ETH didn’t break any records during the previous week, this week ETH turned into a traders’ favorite. On Saturday the price started moving upwards from $510 and the trend continued until Tuesday when ETH reached a staggering $620 mark. From there on ETH continued to drop, reaching its weekly low on Thursday at $491, with a slight recovery to $515.21 on Friday evening. BNB roughly followed the pattern of the growing ETH, reaching a weekly high on Wednesday at $34.97. The price failed to break $35 and fell down to a weekly low of $26.60 on Thursday. The price again slightly decreased on Friday, stopping at $28.31.
The cryptocurrency industry’s total market capitalization started the week at $522 billion, with a significant upwards movement throughout the week, before reaching $582 billion on Wednesday, marking a 32-month high in market cap. This is the highest level that the market has ever reached, excluding most of mid-December 2017 to the end of January 2018, when the cap went as high as $830 billion. The Thursday and Friday sellouts pushed the market cap, and on Friday closing it was at $507.17 billion and dropping.
For more crypto-related news and updates, head over to the Binance News service. We now move to updates from the Binance ecosystem and beyond.
Binance Exchange Updates
Black Friday is all about the deals and discounts, and this year, we’re celebrating with some of the best deals you’ll find on Bitcoin, anywhere. All you have to do is complete a series of simple tasks for a chance to score big. Here’s how you can get started.
2. From Burgers to Bitcoin Billions: How CZ Built a Leading Crypto Exchange in Just 180 Days. The story of Binance is told through the hundreds of people who built its platform, as well as the millions of people who trade on the world’s leading cryptocurrency exchange. But at the core of this tale is that of the founder, Changpeng Zhao (CZ), who launched Binance in July 2017 and led its rise to the top crypto exchange in the world after just 180 days.
3. Binance Will Support the Spark (SPARK) Airdrop Program for XRP (XRP) holders. The airdrop snapshot will take place at the first validated XRP ledger index number with a timestamp greater than or equal to 2020/12/12 00:00 AM (UTC).
4. Binance Will Support the Ethereum Classic (ETC) Hard Fork & Upgrade at the Ethereum Classic block height of 11,700,000. Deposits and withdrawals of ETC will be suspended on 2020/11/28 02:00 AM (UTC) and will reopen deposits and withdrawals for ETC once we deem the upgraded network to be stable.
5. NEW LISTINGS:
No listings this week.
6. NEW INNOVATION ZONE LISTINGS:
8. Distribution of GAS & VTHO for October 2020. Please note, starting from 2020/12/01 0:00 AM (UTC), users can only get rewards of GAS and VTHO after subscribing to NEO and VET Binance Flexible Savings products.
11. Binance Pool launches the 18th phase of Dual Savings products for BTC, USDT, and BUSD.
Binance Smart Chain Updates
12. Binance Launches $120,000 BNB Reward Pool on PancakeSwap - Stake BNB to Earn Free Tokens! In collaboration with PancakeSwap, we’re launching a $120,000 BNB rewards pool to further support the growth of Binance Smart Chain. The activity starts on November 27, 1:00 PM and ends on December 271:00 PM (UTC).
14. BSC Project Spotlight: Bounce, Arkane, and AnySwap. Are you interested in building on BSC? Read our community interviews with the first-hand experience from developers using BSC as their infrastructure.
15. Blockchain Infrastructure provider NOWNodes joins Binance Smart Chain. NOWNodes is a blockchain-as-a-service company powered by ChangeNOW. NOWNodes provides access to full nodes and explorers of 40+ blockchain networks, and the company has recently added support to Binance Smart Chain.
Binance Futures/Options/Margin Updates
17. 5 Cool Features On Binance Futures That You Should Try Out. Did you know that you can compete against other Futures traders? Or that you can convert your assets directly in your coin-margined wallet without the need to transfer them from the spot market? This and more in our Futures latest article.
18. Coin-margined Futures ROI Trading Competition - $200,000 in BNB to be Won! With just five days left, now is your last chance to enter the competition and get your hands on some prizes!
19. We relaunched the BCHUSD & BCHUSDT Coin-Margined Perpetual Contracts with up to 75x leverage.
21. Margin Trading for WAVES, OMG, ROSE, MDT, ZEN & OXT Enabled on Binance with new Cross Margin and Isolated Margin assets and pairs.
22. XVG Enabled on Binance Isolated Margin with XVG/BTC pair.
26. Binance Will List AAVEUP & AAVEDOWN Binance Leveraged Tokens.Binance Leveraged Tokens are tradable assets (off-chain tokens) in the Binance spot market that give users leveraged exposure to the underlying asset. Read the full announcement to learn how they work.
Binance Ecosystem Updates
27. Cash Black Friday - Double Cashback with your Binance Card. The Black Friday craze is about to start, with huge discounts at merchants all around the world. It is the ideal moment to shop with your well-earned crypto profits. As of Black Friday until Cyber Monday we will double cashback for all your Binance Card purchases.
29. Binance Academy’s newest articles:
30. Binance Research’s newest reports:
Binance Fiat/Stablecoin/BNB Updates
31. Binance P2P Launches Express Mode - Available for INR, HKD & VND. With Binance P2P Express mode, you can directly place an order by entering the fiat or crypto amount and the preferred payment method. The orders are matched based on the best crypto price available in the P2P markets.
32. P2P Merchants: Facilitating Freedom of Money in Africa. Peer to peer trading is growing fast in the Africa market. Since the launch of the Nigerian Naira (NGN) in March 2020, Binance P2P has supported fiat-to-crypto trading for five currencies in Africa, processing a total volume of $280 million so far this year.
34. Binance P2P Adds Dai (DAI) and Removes EOS (EOS). Please remove all your active EOS advertisements and transfer all EOS tokens from your P2P wallet to the spot wallet before November 27, 4:00 AM (UTC).
From the Binance Team
35. We’re experiencing substantial growth in new user signups and appreciate your patience during these exciting times!
36. Refresh your knowledge of Dusting Attacks with the previously published Academy article.
37. 4 Ways To Do More With Bitcoin on Binance Smart Chain. Are you curious about DeFi opportunities but don’t want to sell your BTC? We understand. Bitcoin is close to a new ATH and it would be a shame to miss that. Thankfully, there are ways to use BTCs and try the new Binance Smart Chain without necessarily having to sell your bitcoins!
Promos and Community
41. ONGOING: Deposit and Buy Crypto With Ghana Cedi To Earn 30 GHS Cashback. Promo runs until December 4.
42. ONGOING: Buy Crypto on Binance P2P to win an iPhone 12. Promo runs until December 8.
43. ONGOING: Earn Up To 50,000 NGN Weekly by Posting Ads on Binance P2P. During the next 4 weeks, we will be running a maker competition for Nigerian P2P traders. The promotion runs until December 14.
44. COMPLETED: Utrust (UTK) Trading Competition - $50,000 to be Won!
45. COMPLETED: EUR Trading Pair Competition - EUR 40,000 in BUSD to be won!
46. COMPLETED: FIL Trading Competition